UK grocery inflation falls to 1.6%; Fed chair Powell hints at US rate cuts – as it happened

Live, rolling coverage of business economics and financial markets as Kantar data shows pressure easing on UK shoppers, and the Fed hints at nearer term rate cuts

Cineworld has reportedly launched talks with its commercial landlords, including Landsec and Legal & General, about plans to cut a quarter of its cinemas in Britain as part of a restructure plan.

Sky News is reporting that the property owners, which together own about 30 of its multiplexes, are in active discussions with Cineworld ahead of a hearing about its restructuring.